Wall Street Dips as SandP Slides 0.7% Alibaba Surges 10.5% Today

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Find out what happening right now and get all the pieces of the puzzle on important data activity before the major news sources break the story and see what are the trends
 

•  29 Aug 2025
 

Nvidia on second day of declines, PCE index rose in line with forecasts, Marvell shares plunge, Dell drops sharply, and Oracle also drops, in addition, Alibaba jumps and Autodesk and Affirm climb

Wall Street indices in a negative trend. The S&P 500 index is down 0.7%, the Nasdaq index is down 1.1% and the Dow Jones index is also down 0.4%. The 10-year bond yield rises to 4.23%.

Before the opening, the Personal Consumption Expenditures (PCE) index, which is considered the Fed's preferred inflation measure, was published. Forecasts were for a 0.2% increase in the PCE index for July and an annual rate of 2.6%, similar to June. In contrast, the Core PCE index, which neutralizes volatile food and energy prices, is expected to rise by 0.3% in the month and 2.9% in the year, the sharpest increase since February, and these were exactly the actual results.

July producer price data already hinted at a trend in costs, the sharpest jump since the beginning of 2022. Added to this is the new tariff package imposed by the administration this month, and experts estimate that its full impact on consumer prices is not yet visible in the indices. And yet - Powell signals a cut. Chairman Fed Chairman Jerome Powell chose a particular June tone at the Jackson Hole conference on August 22. He said the Fed is getting closer to cutting interest rates at the upcoming meeting. The question is whether there won't be a disappointing figure along the way that will spoil the celebration.

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